Who owns ZS (ZS)
Which tracked institutional funds hold ZS, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See ZS company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on ZS is one-sided between 2025-Q4 and 2026-Q1: 104 added or opened and 428 trimmed or exited — on balance reducing.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
ZS’s largest tracked holder by dollar value, VANGUARD GROUP INC, sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp gap the other way — the median holder sizes ZS more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in ZS divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 745 tracked filers holding ZS, 386 increased or opened the position and 499 reduced or closed it; over the same quarter, open-market insider Form 4 buying and selling roughly offset.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in ZS between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 44
- VANGUARD PORTFOLIO MANAGEMENT LLC$832M
- VANGUARD CAPITAL MANAGEMENT LLC$654M
- VANGUARD FIDUCIARY TRUST CO$91M
- SEB Asset Management AB$60M
- VOLORIDGE INVESTMENT MANAGEMENT, LLC$60M
- Eurizon Capital SGR S.p.A.$38M
Full exits 87
- VANGUARD GROUP INC$2.5B
- Skandinaviska Enskilda Banken AB (publ)$94M
- Qube Research & Technologies Ltd$86M
- Alyeska Investment Group, L.P.$75M
- Greenvale Capital LLP$39M
- Rokos Capital Management LLP$33M
Largest adds
- VICTORY CAPITAL MANAGEMENT INC$187M
- Invesco Ltd.$143M
- TWO SIGMA INVESTMENTS, LP$120M
- WELLINGTON MANAGEMENT GROUP LLP$94M
- JANE STREET GROUP, LLC$40M
- MILLENNIUM MANAGEMENT LLC$36M
Largest trims
- BlackRock, Inc.$989M
- FMR LLC$713M
- PRICE T ROWE ASSOCIATES INC /MD/$333M
- FEDERATED HERMES, INC.$253M
- AQR CAPITAL MANAGEMENT LLC$218M
- AMERICAN CENTURY COMPANIES INC$206M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 5,930,635 | $832M | 6.2% | 2026-Q1 |
| BlackRock, Inc. trimmed | 5,507,060 | $773M | 5.7% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 4,660,890 | $654M | 4.8% | 2026-Q1 |
| FIRST TRUST ADVISORS LP added | 3,518,678 | $494M | 3.7% | 2026-Q1 |
| Invesco Ltd. added | 3,374,563 | $473M | 3.5% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 2,924,939 | $410M | 3.0% | 2026-Q1 |
| STATE STREET CORP added | 2,384,518 | $335M | 2.5% | 2026-Q1 |
| AMERICAN CENTURY COMPANIES INC trimmed | 2,384,425 | $335M | 2.5% | 2026-Q1 |
| FMR LLC trimmed | 2,180,650 | $306M | 2.3% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC added | 2,086,910 | $292M | 2.2% | 2026-Q1 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 1,965,114 | $276M | 2.0% | 2026-Q1 |
| Pictet Asset Management Holding SA added | 1,920,540 | $269M | 2.0% | 2026-Q1 |
| PRICE T ROWE ASSOCIATES INC /MD/ trimmed | 1,749,210 | $245M | 1.8% | 2026-Q1 |
| T. Rowe Price Investment Management, Inc. added | 1,689,119 | $237M | 1.8% | 2026-Q1 |
| TIGER GLOBAL MANAGEMENT LLC | 1,579,766 | $222M | 1.6% | 2026-Q1 |
| VICTORY CAPITAL MANAGEMENT INC added | 1,555,104 | $218M | 1.6% | 2026-Q1 |
| UBS Group AG added | 1,412,834 | $198M | 1.5% | 2026-Q1 |
| MORGAN STANLEY trimmed | 1,281,864 | $180M | 1.3% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP added | 1,176,095 | $165M | 1.2% | 2026-Q1 |
| Amundi added | 1,008,274 | $141M | 1.0% | 2026-Q1 |
| AQR CAPITAL MANAGEMENT LLC trimmed | 1,014,911 | $141M | 1.0% | 2026-Q1 |
| WELLINGTON MANAGEMENT GROUP LLP added | 885,440 | $124M | 0.9% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 779,245 | $109M | 0.8% | 2026-Q1 |
| NORTHERN TRUST CORP added | 688,501 | $97M | 0.7% | 2026-Q1 |
| Squarepoint Ops LLC added | 676,652 | $95M | 0.7% | 2026-Q1 |
| BARCLAYS PLC trimmed | 669,252 | $94M | 0.7% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 649,305 | $91M | 0.7% | 2026-Q1 |
| Legal & General Group Plc trimmed | 626,295 | $88M | 0.7% | 2026-Q1 |
| Penserra Capital Management LLC added | 555,917 | $78M | 0.6% | 2026-Q1 |
| JANUS HENDERSON GROUP PLC added | 541,671 | $76M | 0.6% | 2026-Q1 |
| CITIGROUP INC added | 532,306 | $75M | 0.6% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 512,180 | $72M | 0.5% | 2026-Q1 |
| CITADEL ADVISORS LLC added | 510,857 | $72M | 0.5% | 2026-Q1 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. added | 507,774 | $71M | 0.5% | 2026-Q1 |
| Bank of New York Mellon Corp added | 494,734 | $69M | 0.5% | 2026-Q1 |
| Champlain Investment Partners, LLC added | 438,929 | $62M | 0.5% | 2026-Q1 |
| BNP PARIBAS FINANCIAL MARKETS added | 433,998 | $61M | 0.5% | 2026-Q1 |
| SEB Asset Management AB new | 427,924 | $60M | 0.4% | 2026-Q1 |
| WESTFIELD CAPITAL MANAGEMENT CO LP added | 427,919 | $60M | 0.4% | 2026-Q1 |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC added | 427,786 | $60M | 0.4% | 2026-Q1 |
| DEUTSCHE BANK AG\ trimmed | 421,834 | $59M | 0.4% | 2026-Q1 |
| Liontrust Investment Partners LLP | 258,925 | $58M | 0.4% | 2026-Q1 |
| CANADA PENSION PLAN INVESTMENT BOARD added | 396,354 | $56M | 0.4% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC added | 392,740 | $55M | 0.4% | 2026-Q1 |
| Artisan Partners Limited Partnership trimmed | 385,216 | $54M | 0.4% | 2026-Q1 |
| Nuveen, LLC trimmed | 358,207 | $50M | 0.4% | 2026-Q1 |
| VOYA INVESTMENT MANAGEMENT LLC trimmed | 353,928 | $50M | 0.4% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC added | 334,904 | $47M | 0.3% | 2026-Q1 |
| JPMORGAN CHASE & CO trimmed | 330,954 | $45M | 0.3% | 2026-Q1 |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. added | 306,527 | $43M | 0.3% | 2026-Q1 |
| Swiss National Bank added | 304,200 | $43M | 0.3% | 2026-Q1 |
| JACOBS LEVY EQUITY MANAGEMENT, INC trimmed | 296,554 | $42M | 0.3% | 2026-Q1 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP trimmed | 290,704 | $41M | 0.3% | 2026-Q1 |
| JANE STREET GROUP, LLC added | 289,194 | $41M | 0.3% | 2026-Q1 |
| Ensign Peak Advisors, Inc trimmed | 275,793 | $39M | 0.3% | 2026-Q1 |
| Eurizon Capital SGR S.p.A. new | 274,004 | $38M | 0.3% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC trimmed | 275,725 | $38M | 0.3% | 2026-Q1 |
| Candriam S.C.A. added | 253,588 | $36M | 0.3% | 2026-Q1 |
| BANK OF MONTREAL /CAN/ added | 250,961 | $35M | 0.3% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP added | 243,763 | $34M | 0.3% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 240,314 | $34M | 0.2% | 2026-Q1 |
| Sumitomo Mitsui Trust Group, Inc. trimmed | 240,018 | $34M | 0.2% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC added | 230,460 | $32M | 0.2% | 2026-Q1 |
| NICHOLAS COMPANY, INC. trimmed | 227,842 | $32M | 0.2% | 2026-Q1 |
| WORLDQUANT MILLENNIUM ADVISORS LLC added | 226,781 | $32M | 0.2% | 2026-Q1 |
| DekaBank Deutsche Girozentrale | 221,212 | $32M | 0.2% | 2026-Q1 |
| CANADA LIFE ASSURANCE Co added | 222,100 | $31M | 0.2% | 2026-Q1 |
| NEUBERGER BERMAN GROUP LLC trimmed | 216,470 | $30M | 0.2% | 2026-Q1 |
| Jump Financial, LLC added | 207,773 | $29M | 0.2% | 2026-Q1 |
| Vident Advisory, LLC added | 207,698 | $29M | 0.2% | 2026-Q1 |
| TD Asset Management Inc trimmed | 207,241 | $29M | 0.2% | 2026-Q1 |
| ProShare Advisors LLC trimmed | 204,817 | $29M | 0.2% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 203,452 | $29M | 0.2% | 2026-Q1 |
| ShawSpring Partners LLC new | 200,416 | $28M | 0.2% | 2026-Q1 |
| PANAGORA ASSET MANAGEMENT INC added | 197,498 | $28M | 0.2% | 2026-Q1 |
| Point72 Asset Management, L.P. added | 196,400 | $28M | 0.2% | 2026-Q1 |
| JIA INVESTMENT ALLIANCE PTE. LTD. | 191,060 | $27M | 0.2% | 2026-Q1 |
| ROYAL BANK OF CANADA trimmed | 189,192 | $27M | 0.2% | 2026-Q1 |
| National Pension Service added | 181,905 | $26M | 0.2% | 2026-Q1 |
| Assenagon Asset Management S.A. added | 181,356 | $25M | 0.2% | 2026-Q1 |
| Man Group plc trimmed | 177,225 | $25M | 0.2% | 2026-Q1 |
| Robeco Institutional Asset Management B.V. trimmed | 174,064 | $24M | 0.2% | 2026-Q1 |
| BAMCO INC /NY/ trimmed | 173,025 | $24M | 0.2% | 2026-Q1 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND trimmed | 172,167 | $24M | 0.2% | 2026-Q1 |
| VANGUARD ASSET MANAGEMENT, Ltd new | 169,967 | $24M | 0.2% | 2026-Q1 |
| VANGUARD GROUP INC trimmed | 11,326,366 | $2.5B | 18.9% | 2025-Q4 stale |
| Skandinaviska Enskilda Banken AB (publ) added | 420,086 | $94M | 0.7% | 2025-Q4 stale |
| Qube Research & Technologies Ltd added | 380,391 | $86M | 0.6% | 2025-Q4 stale |
| Alyeska Investment Group, L.P. trimmed | 335,147 | $75M | 0.6% | 2025-Q4 stale |
| AXA S.A. added | 174,416 | $55M | 0.4% | 2025-Q2 stale |
| Zurich Insurance Group Ltd/FI added | 136,902 | $43M | 0.3% | 2025-Q2 stale |
| AXA Investment Managers S.A. new | 143,114 | $43M | 0.3% | 2025-Q3 stale |
| Greenvale Capital LLP trimmed | 175,000 | $39M | 0.3% | 2025-Q4 stale |
| PINEBRIDGE INVESTMENTS, L.P. added | 110,961 | $33M | 0.2% | 2025-Q3 stale |
| Rokos Capital Management LLP | 147,317 | $33M | 0.2% | 2025-Q4 stale |
| CIBC Private Wealth Group LLC trimmed | 143,808 | $32M | 0.2% | 2025-Q4 stale |
| Thematics Asset Management trimmed | 94,104 | $28M | 0.2% | 2025-Q3 stale |
| CAPITAL FUND MANAGEMENT S.A. added | 82,129 | $26M | 0.2% | 2025-Q2 stale |
| ADAPT Investment Managers SA new | 112,413 | $25M | 0.2% | 2025-Q4 stale |
| TWO SIGMA ADVISERS, LP trimmed | 111,980 | $25M | 0.2% | 2025-Q4 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.